WorleyParsons completed the $3.2 billion acquisition of Jacobs Engineering Group’s Energy, Chemicals and Resources division (Jacobs ECR).
WorleyParsons’ CEO Andrew Wood said: “This merger is about more than capacity and capability. It’s about opportunity. The opportunity to become the partner of choice for our customers, the employer of choice for our people and to deliver enhanced returns for our shareholders.”
The operating structure announced in February of four business units, Advisian, Energy and Chemical Services, Mining, Minerals & Metals Services and Major Projects and Integrated Solutions, is effective from completion. The transition process for combining the businesses into a cohesive, merged new company is underway following a period of extensive planning.
Cost synergies of approximately A$130 million at a cost of A$160 million are anticipated to be delivered within two years. Further benefits will be achieved from optimisation and revenue synergies, said the company.
WorleyParsons has adopted ‘Worley’ as its new brand. The company name will be changed to Worley Limited, subject to the approval of members at the AGM in October 2019.
For more information visit www.worleyparsons.com